Although there are many schemes that promise to help you make money from home, there are some legitimate ways for people to make extra money that require next to no investment. You can leverage what you already have and connect with the people who need it!

The key to this type of enterprise is technology, which has given rise to the birth of the "sharing economy.” Technology can now connect people who need goods or services to those who goods and services to offer, simply and quickly. Airbnb enables people to find places to stay at much lower rates than hotel rooms, for example, and Über allows people to find rides quickly at cheaper prices than taxis. With smartphones and advanced internet platforms, it’s easier than ever to find ways to use what you have to make extra money.

Think of what you can provide or do that might be marketable in your area. For example, if you love dogs, you might be able to offer dog-walking or pet-sitting services to your neighbours. You’ll probably be able to find an internet platform that matches your service to people with pets in your neighbourhood. If you excelled in math at school, find a site that matches people who need tutoring with experts. If you have a car, a website can help you you locate seniors in your neighbourhood who need grocery or drugstore deliveries. If you have skills like quilting or knitting, look for a site that matches budding hobbyists with accomplished artisans.

Space Sharing

If your time is limited, you can even make money by using your home, garage, and yard!

It’s estimated that the average North American home contains 300,000 items. In urban areas, people may have difficulty finding storage space for some of their possessions. If you have extra space in your basement, spare room, attic, crawl spaces, garage or shed, you can offer it for storage.

For example, people in your neighbourhood may have sports equipment like golf clubs or bicycles that are used in warmer months, but that just take up space in the winter. Through a space sharing website, you can offer to store these items in your shed or garage. If you have room for a vehicle, a trailer, or a boat, you could stand to make even more money. Even your driveway can be rented as a parking spot.

Working with a Spare Sharing Company

Look for a space sharing company that can guide you through the process. Better companies allow you to register your space for free, and provide you and the renter with a legal agreement to sign that outlines the terms of the arrangement. (These terms should include a list of all of the items that will be stored, as well as information about how the renter will be able to access the space.) Renters should make payments to the company, and they should be disbursed to you by the company. If you have any difficulties, you should be able to contact the company for help or advice. Some companies will even help you to clear out a space so that it will be ready to rent! The more secure and attractive your space is, the more money you’ll be able to ask for it.

Rent unused space to your neighbours -- make extra money, and make new community connections!